Itemized for Billing

Use Itemized for Billing to specify that a charge is listed as multiple line items on the invoices. This line item is right-aligned in the Policy Premium tab on the Quote screen in a submission.

On the Pricing screens, you can set Itemized for Billing on:
  • Risk objects
  • Coverages
  • Coverage costs
  • Other costs

In the Policy Premium tab, charges with the same risk type are rolled up into a right-aligned line item. You may need to increase the column width to see the alignment. If the line item charge is not itemized, the Description is blank. If Itemized for Billing is selected, the line item Description contains the name of the risk object, coverage, or cost being itemized.

The following examples show how itemized for billing changes the Policy Premium tab using a policy with a Cell Phone risk object with a Loss of Phone coverage. The submission has an Apple and a Samsung phone. Both cell phones have the same rates. The Basis of both phones is 1000.

Note: The Rate column appears in the Pricing screen in a submission or other policy transaction.

The list of Risk Objects does not appear on the Product Definition > Pricing tab.

Charges sent to billing system

Charges on the same risk type that are itemized for billing are grouped into a single charge, with the itemization in the charge breakdown details. This charge is sent to BillingCenter or the associated billing system.

No itemizing

If Itemized for Billing is No for all costs, then the Policy Premium tab on the Quote screen lists the three different charge types on the Pricing screens.
Policy Premium

Charge Type

 Description Settlement Amount
Premium, inc. Tax $244.00
Standard premium $220.00
Tax or surcharge $24.00
The Charge Type information corresponds to the cost types. There is one left-aligned Premium, inc. Tax charge for collection by billing. This is the Debt Type. This charge is the sum of the right-aligned Standard premium plus Tax or surcharge charges that are Premium, inc. Tax that appear under the charge for collection.
  • Standard premium – Sum of all Standard premium costs on the risk objects and on the policy.
  • Tax or surcharge – Sum of all Tax or surcharge costs on the risk objects and on the policy.

The Description column is empty because there is neither itemization nor separate collection.

If nothing is itemized, the Pricing screen has the following information related to Itemized for Billing:
Pricing
Risk Objects
Cell Phone: Apple
Cell Phone: Samsung
Other Costs
Name Cost Type Itemized for Billing Basis Attribute Rate Per
GST Tax or surcharge No <prior costs> 0.1 Per Unit
Note: <prior costs> is based on Premium.
For each cell phone risk object, the Risk Object Pricing screen has the following information related to Itemized for Billing:
Risk Object Pricing
Cell Phone: Name
Itemized for Billing No
Coverage Costs
Name Cost Type Itemized for Billing Basis Attribute Basis Rate Per
Loss of Phone No
Premium Standard premium No Cell Phone: Price when new 1000 0.1 Per Unit
GST Tax or surcharge No <prior costs> 0.01 Per Unit
Other Costs
Premium Standard premium No Price when new 1000 0.01 Per Unit

Itemizing risk objects

If you itemize a risk object, costs of the same charge type are rolled up into a single line item for each instance of the risk object on the Policy Premium tab. The itemized charges on the risk object are identified in Description. Costs of the same charge type are rolled up into a single line item for each instance of the risk object. Therefore, the standard premium for the Apple cell phone is $110.00, the sum of these standard premium amounts:

  • Loss of Phone standard premium at 0.1%: $100
  • Other Costs standard premium at 0.01%: $10
Policy Premium

Charge Type

 Description Settlement Amount
Premium, inc. Tax $244.00
Tax or surcharge $22.00
Standard premium Cell Phone: Apple $110.00
Tax or surcharge Cell Phone: Apple $1.00
Standard premium Cell Phone: Samsung $110.00
Tax or surcharge Cell Phone: Samsung $1.00
In the Risk Object Pricing screen, the cell phone risk objects are Itemized for Billing:
Risk Object Pricing

Cell Phone: Samsung
Itemized for Billing Yes

Itemizing coverages

If you itemize a coverage, costs of the same charge type are rolled up into a single line item for each instance of the coverage on the Policy Premium tab. In this example, Cell Phone risk object and the Loss of Phone coverage are itemized for billing.

On the Policy Premium tab, itemized charges on the coverage are identified in the Description. For. each instance of the coverage, the costs of the same charge type are rolled up into a single line item. The Cell Phone: Samsung | Loss of Phone coverage has two itemized charges:
  • Standard premium charge type
  • Tax and surcharge charge type
Costs are also itemized on the cell phone risk object, therefore any remaining costs of the same type on the Cell Phone risk object are rolled up into a single line item. The Cell Phone: Samsung has an itemized standard premium charge.
Policy Premium

Charge Type

 Description Settlement Amount
Premium, inc. Tax $122.00
Tax or surcharge $11.00
Standard premium Cell Phone: Samsung $10.00
Standard premium Cell Phone: Samsung | Loss of Phone $100.00
Tax or surcharge Cell Phone: Samsung | Loss of Phone $1.00
The Risk Object Pricing screen for the cell phone has the following information related to Itemized for Billing:
Risk Object Pricing

Cell Phone: Samsung
Itemized for Billing Yes
Coverage Costs
Name Cost Type Itemized for Billing Basis Attribute Basis Rate Per
Loss of Phone Yes

Itemizing individual costs

If you itemize a risk object and itemize individual costs on the risk object, both the risk object and the itemized costs appear on separate line items in the Policy Premium tab. In this example, the cell phone risk object and GST cost on Loss of Phone coverage are itemized. Loss of Phone coverage is not itemized.

On the Policy Premium tab, the GST appear as a separate tax or surcharge line item with the description Cell Phone: Samsung | Loss of Phone | GST. Any other tax or surcharge items are rolled up into the Cell Phone: Samsung line item.
Policy Premium

Charge Type

 Description Settlement Amount
Premium, inc. Tax $122.00
Tax or surcharge $11.00
Standard premium Cell Phone: Samsung $110.00
Tax or surcharge Cell Phone: Samsung | Loss of Phone | GST $1.00
In the Risk Object Pricing screen for the cell phone, Itemized for Billing is set to Yes for the cell phone risk object and the GST cost on Loss of Phone coverage. Loss of Phone coverage is not itemized.
Risk Object Pricing

Cell Phone: Samsung
Itemized for Billing Yes
Coverage Costs
Name Cost Type Itemized for Billing Basis Attribute Basis Rate Per
GST Tax or surcharge Yes Cell Phone: Price when new 1000 0.01 Per Unit